Hey guys!
I'm at U. Tokyo today, and the new SONY reader has just been released. Here is a brief review and a feature wishlist / status (for both the original version and the new device):
www.phys.hawaii.edu/~kcroker/sonydps/
Hopefully, this will help clarify many of the pros and cons of the device.
Regarding my relation to the device, I wrote the dpsprep software, which converts DJVU to PDF with internal link structure and searchability preserved. I talk to SONY corporate pretty frequently about this device. In particular, I've been heavily pressing for them to open up the platform.
Word is bond.
-k